PT Surabaya Agung Industri Pulp & Kertas (SAIP IJ), which
produces a variety of paper products, jumped 24 percent to 305
rupiah. Brokerage PT Sucorinvest Central Gani said Surabaya
Agung’s debt-to-equity deal was positive for the stock because
of the higher share-price conversion. The company plans to issue
new shares under the debt-to-equity-deal at 1,000 rupiah apiece,
four times its last closing price, Sucorinvest said in its
report today.